INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986

PART III - FUNCTIONS RELATING TO THE R & D TAX OFFSET  

Division 6 - Consolidated groups and MEC groups  

SECTION 31B   WHAT HAPPENS TO FINDINGS IF R & D ENTITY LEAVES A GROUP  

31B(1)  
The consequences in subsection (2) apply if a finding (the group finding ) under this Part:

(a)  is for an R & D entity that is the head company of a consolidated group or MEC group; and

(b)  is in force immediately before the time (the leaving time ) another R & D entity ceases to be a subsidiary member of the group; and

(c)  is for an activity to be conducted by or for the other R & D entity wholly or partly after the leaving time; and

(d)  is not a deemed finding.

31B(2)  
The consequences are as follows:

(a)  a corresponding finding (the continuing finding ) in the same terms is taken to come into force at the leaving time for the other R & D entity and the activity;

(b)  everything that happened under this Part before the leaving time in relation to the group finding is taken to have happened in relation to the continuing finding;

(c)  the group finding ceases to be in force at the leaving time.




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